Advisor Idea Generator

Step 1 of 3 – Industry

What industry is your client in?
  Tourism
What challenge are they facing?
  Expand their offering into a new city
What have you tried?
  We have their existing playbook but need a plan to figure out how to launch the same tours in a new city
Response
 

First, I suggest your client conduct market research on the new city they want to expand to. They need to understand the local tourism industry and the demand for their type of tours. This can be done through surveys, focus groups, and analyzing data on tourism trends in that city. One framework that can be implemented is the SWOT analysis, which can help identify the strengths, weaknesses, opportunities, and threats of entering a new market. This will provide insights on potential challenges and how to overcome them.

The second recommendation is to establish partnerships with local businesses in the tourism industry. This can help your client gain access to resources, establish credibility in the new market, and generate leads for their tours. The partnership can also help them understand the culture and needs of the city they are expanding to. A framework that can be used here is the SMART goals framework, where specific, measurable, achievable, realistic and time-bound goals can be set to establish partnerships.

The third recommendation is to build a strong online presence. In today’s digital age, social media and search engines are powerful tools for marketing a business. Your client should ensure that their website and social media pages are optimized for search engines, and that they are engaging with potential customers online. A framework that can be used in this case is the customer journey framework, where different touchpoints with the customer can be identified and catered for. By understanding the customer journey, your client can tailor their online marketing activities to different stages of the customer’s decision-making process.

Finally, I recommend that your client assess their operational capabilities to ensure they can handle the demands of the new market. They need to determine if they have the resources, skills, and capacity to manage the expansion. This can be done through a process review framework, which identifies areas that need to be addressed in order to improve productivity and efficiency.

In summary, to expand their offering into a new city, your client needs to conduct market research, establish partnerships, build a strong online presence, and assess their operational capabilities. Using the SWOT analysis, SMART goals framework, customer journey framework, and process review framework can help facilitate the expansion process.

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